Abstract
Annual general meeting or known as AGM as the place for the management and shareholders to sit together to discuss the company with the objective of profit maximization and to promote organizational accountability. Based on the observation from a period of 2012 to 2017, the disclosure of AGM minutes on the corporate website increase over the year. However, the number is still below 50% in overall Malaysian public listed companies. This paper aims to highlight the importance of AGM minutes as one of the key success factors toward good governance. Based on this paper, the management of the company such as the board of directors, the company secretary, and related parties will take the initiative to publish good quality of AGM minutes as a panacea toward good governance.
Highlights
Minority Shareholders Watch Group (MSWG) established in the year 2000 intending to protect the interest of minority shareholders, such as during the annual general meeting (AGM) events
By looking at Bursa Malaysia Berhad AGM minutes as a benchmark, it provides a detailed, full disclosure related to corporate information, a recommendation based on Malaysia Code on Corporate Governance practice and a brief record of the documents
This paper examines the publicly listed companies in Malaysia that willingness to disclose their AGM minutes on the corporate website for the financial year ended December 31, 2016
Summary
Minority Shareholders Watch Group (MSWG) established in the year 2000 intending to protect the interest of minority shareholders, such as during the annual general meeting (AGM) events. Disclosure AGM minutes are voluntary in Malaysia until 2016, where Bursa Malaysia Berhad makes it compulsory for all public listed companies. These companies are required to publish a summary of the key matters discussed at the AGM as soon as possible after. By looking at Bursa Malaysia Berhad AGM minutes as a benchmark, it provides a detailed, full disclosure related to corporate information, a recommendation based on Malaysia Code on Corporate Governance practice and a brief record of the documents. According to ASEAN CG Scorecard, the assessment of voluntary disclosure among Malaysia public listed companies comprised of the appointment of women on board, increase the level of corporate responsibility statement, disclosure of board charter, code of ethics and board assessment on the corporate website. The concept is clean, the more disclosure of the corporate information, the more transparency and accountability of the companies to its shareholders and potential investors
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